Florida property market is back with a bang

Friday, August 27, 2010

The Florida property market is back in favour with overseas property buyers, including many Brits, according to a leading Orlando-based new home developer and estate agent.

Garrett Kenny, head of Coldwell Banker Feltrim, says that Florida is casting its spell over foreigners seeking a place in the sun, thanks to the launch of the new Wizarding World of Harry Potter at Universal Studios.

Kenny also believes that recent shots of President Obama and the first family playing in the surf of the Gulf of Mexico on their fourth Florida vacation this year – has acted as a major endorsement for people thinking of buying a home in Florida.

Coldwell Banker Feltrim has been inundated with calls from Brits hoping to pick up a bargain property, following a spectacular fall in property prices in the past three years.

“Now is a great time to buy property in Florida as prices have fallen by as much as 50 per cent in some cases and some condos are now selling for less than they cost to build. With prices so low there is nowhere for them to go but up.”

“[Canny investors and holiday homebuyers] could buy a modern family home in Florida with its world class theme parks, beaches, golf courses, restaurants and nature reserves.”

Coldwell Banker Feltrim is currently marketing a number of homes in Florida for sale, with prices starting as low as £42,000 for a one-bedroom apartment on the sixth hole of the Grenelefe East Golf Course.

Garrett adds: “Where in the UK or the rest of Europe could you buy a property with a championship golf course, marina and all the leisure amenities you could ever need right on your doorstep, for under £50,000?”